Brazilian BRF Brasil Foods SA is seeking out some of the world’s biggest dairy companies including Lactalis Group, Nestle SA, and Sigma Alimenos, the food division of Mexican Alfa SAB de CV for a possible strategic sale or partial sale of assets of its dairy business. The dairy business accounts for approximately 10% of BRF’s revenues which totaled 7.6 billion Brazilian reals (US$3.27 billion) in the three months ending September 30th. BRF Brasil Foods is one of the largest food producers in Brazil and is the world’s largest poultry exporter. BRF has not stated the reason for divesting its dairy business but has stated that the process is being managed by the Brazilian investment bank Itau BBA.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service